Ranked in 3 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Score of 96/100 qualifies for PaymentCheck Certification
BENIFEX LIMITED demonstrates an exceptionally strong trend in payment speed, averaging just 10 days per invoice. A remarkable 98% of payments are settled within 30 days, consistently indicating a highly efficient and prompt payment trajectory.
While most payments are prompt, the 23% late payment rate introduces a degree of unpredictability regarding adherence to specific invoice due dates. Though only 2% of payments extend beyond 30 days (1% between 31-60 days and 1% over 60 days), this late percentage suggests a minor, yet present, risk of individual invoices not being paid within their exact terms.
Overall, BENIFEX LIMITED presents a largely favorable payment risk profile due to its outstanding speed and high volume of on-time payments. Suppliers should anticipate quick settlement for most invoices but consider implementing clear payment terms and potentially monitoring the initial few invoices to mitigate the risk associated with the 23% late payment incidence.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Nov 2025 - 30 Apr 2026 | 01 Jun 2026 | 15 | 89% | 10% | 1% | 35% |
| 01 May 2025 - 31 Oct 2025 | 08 Dec 2025 | 14 | 93% | 7% | 0% | 0% |
| 01 Nov 2024 - 30 Apr 2025 | 30 May 2025 | 11 | 98% | 2% | 0% | 25% |
| 01 May 2024 - 31 Oct 2024 | 09 Dec 2024 | 10 | 98% | 1% | 1% | 23% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The following is the standard process to support Benefex LTD payment terms: - • An approved PO number should be quoted on the invoice • Invoices must be addressed to the Company as specified in the Purchase Order • Invoices should be delivered to the address as specified in the Purchase Order • Normally, payment period is 30 days unless otherwise agreed with the supplier.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
The vendors can raise their queries or complaints using any one of the following: • Email the queries/ complaints to accounts@benefex.co.uk and the same will be attended within 24 business hours. • Vendors can also reach out to our helpdesk @ 44 (20) 39863038. If the query/complaint requires further investigation the same will be referred to the appropriate department for further action.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
This company is registered as Benefex Limited but now trades as Benifex, following the rebrand created when Benefex and Benify came together under the new name. Benifex provides a global software platform that connects employee benefits, wellbeing, reward and recognition, and communication in one place for employers. The platform is used by thousands of organisations across many countries, supporting millions of employee users with tools including benefits administration, discounts, a rewards and recognition module, a card based benefits wallet, and a mobile app. The company is headquartered in Southampton, with additional UK and international offices supporting clients globally. Its work centres on workplace technology for HR, reward and benefits administration rather than on delivering the benefits themselves.
Generated from the company's website and Companies House records. Sources: benifex.com · benifex.com